Middle Eastern Interest Grows: London Welcomes More Visitors in 2023

by Press Release

Leading global real estate consultancy Knight Frank, has seen a notable year on year increase in Middle Eastern visitors to the UK’s capital over the summer months for 2023. In recent analysis of Heathrow Airport data, the footfall of Middle Eastern travelers through the Airport, the UK’s largest and the busiest in Europe, has increased 14% from 541,116 in June 2022 to 614,227 in June this year. This surge in Middle Eastern interest in London’s real estate market can be attributed, among other factors, to the capital’s enduring cultural heritage, strong legal infrastructure, and prestigious educational options, making it a compelling choice for those seeking a diverse lifestyle, and stable investment opportunity.

Knight Frank data also reports that the average price paid by Middle Eastern buyers for properties during this period, stands at £2.6 million. As the London property market continues to attract discerning investors from the region, one of the developments in central London that continues to catch the eye of Middle Eastern investors is the prestigious Chelsea Waterfront.

This rise in interest at Chelsea Waterfront, can be largely attributed to a robust second half of 2022, where Middle Eastern buyers showed a significant increase in interest between July and December compared to the preceding period.

It also exemplifies the development’s global appeal and ability to captivate international investors from diverse backgrounds. The property’s ideal location, luxurious amenities, and reputation for being a truly exceptional London residence have solidified its position as an attractive investment opportunity.

Nicholas Spencer, Partner- London International Project Sales at Knight Frank said; “Knight Frank has been assisting high net worth clients from the GCC region find homes and investments in London for many years, and Chelsea Waterfront has become one of the most popular locations for our clients due to its unique proposition. It provides a tranquil waterside lifestyle, with arguably some of the best views available of the London skyline. The likes of Sloane Square and Knightsbridge are just 10 minutes away, but the onsite amenities consisting of a 24h concierge, health and fitness suite and residents lounge will give you little reason to leave. In 2024 there’ll also be the addition of an onsite restaurant.

With completed units ranging from 1 bed to spacious 4 beds, Chelsea Waterfront reflects terrific value for money for those looking to acquire a luxury home in central London. It has always resonated very well with our Middle Eastern clients and continues hold a special place within Knight Franks portfolio.”

Chelsea Waterfront is a prestigious residential development in London offering luxury apartments and penthouses with stunning views of the River Thames and the cityscape. Developed with exceptional design and state-of-the-art facilities, Chelsea Waterfront offers an exclusive urban living experience in one of London’s most desirable locations.

Chelsea Waterfront is a 710-apartment development on the last remaining river front site between Chelsea and the city. Comprising a collection of luxury apartments, set across 10 buildings, the scheme has been designed by internationally renowned architect Sir Terry Farrell with gardens by leading landscape architects Randle Siddeley Associates. The first significant development in Chelsea for over a century, Chelsea Waterfront is being delivered by Hutchison Property Group as a landmark scheme for London and includes a 37-storey tower – the tallest residential building in SW10 – and a 25-storey tower, two glass residential towers which stand either side of a landscaped creek, framing the iconic Powerhouse.

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